Beginning to look less like a software company than an institution, Intuit Inc, Menlo Park has agreement to acquire Galt Technologies Inc of Pittsburgh for shares worth over $9m. Galt is a distributor of mutual fund – unit trust – information on the Internet. Galt Technologies’ NETworth service distributes the information of 65 mutual fund companies on the World Wide Web, and Quicken personal finance software users will be able to use their home personal computers not only to pay bills, check balances at their bank and but also to download prospectuses and other information for mutual funds through the Quicken Financial Network, Intuit’s new Web site. US investors can’t open mutual fund accounts over the Internet because of Securities & Exchange Commission consumer protection restrictions, but they can download an application and pop it into the post to the company.
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